Piper Sandler Reaffirms “Neutral” Rating for Origin Bancorp (NASDAQ:OBK)

Piper Sandler reiterated their neutral rating on shares of Origin Bancorp (NASDAQ:OBK) in a research report released on Friday morning, Benzinga reports. They currently have a $32.00 price target on the stock, up from their prior price target of $30.00.

OBK has been the subject of several other reports. DA Davidson reissued a buy rating on shares of Origin Bancorp in a research note on Monday, January 15th. TheStreet lowered shares of Origin Bancorp from a b- rating to a c+ rating in a report on Wednesday, March 13th. Finally, Raymond James lifted their target price on shares of Origin Bancorp from $33.00 to $34.00 and gave the company an outperform rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $33.33.

Origin Bancorp Stock Up 0.1 %

Shares of NASDAQ OBK opened at $30.97 on Friday. Origin Bancorp has a 52-week low of $25.59 and a 52-week high of $36.91. The firm has a fifty day moving average of $29.78 and a 200-day moving average of $31.31. The stock has a market capitalization of $960.38 million, a PE ratio of 11.68 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.26.

Origin Bancorp (NASDAQ:OBK) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). Origin Bancorp had a net margin of 13.66% and a return on equity of 8.28%. The company had revenue of $81.19 million for the quarter, compared to analysts’ expectations of $88.20 million. On average, analysts anticipate that Origin Bancorp will post 2.43 EPS for the current year.

Origin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.94%. Origin Bancorp’s dividend payout ratio is currently 22.64%.

Hedge Funds Weigh In On Origin Bancorp

A number of institutional investors have recently added to or reduced their stakes in OBK. Vanguard Group Inc. acquired a new position in Origin Bancorp in the 3rd quarter worth $45,900,000. Harbor Capital Advisors Inc. acquired a new position in Origin Bancorp in the 4th quarter worth $578,000. Carl Stuart Investment Advisor Inc. acquired a new position in Origin Bancorp in the 4th quarter worth $225,000. Rosenthal Henry Capital Advisors Inc. acquired a new position in Origin Bancorp in the 4th quarter worth $2,032,000. Finally, SG Americas Securities LLC bought a new stake in shares of Origin Bancorp in the 4th quarter worth about $311,000. Institutional investors and hedge funds own 54.68% of the company’s stock.

About Origin Bancorp

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.